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Summary Findings |
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Size and Composition of the Corporate Sector |
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Summary Table |
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Both shareholders’ equity and total assets
continued to expand in 2002, though at slower rates compared to 2001. |
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Shareholders’ equity rose by 4.4 per cent to reach
$627 billion in 2002, after an increase of 9.1 per cent in 2001. |
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Total assets owned by companies stood at $2,500
billion as at end 2002. Its growth also moderated to 1.7 per cent in 2002 from
3.6 per cent in 2001.
(Chart 1) |
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Shareholders' Equity |
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Shareholders’ equity in financial services sector
(which includes investment holding companies) made up about $286 billion or
45.6 per cent of total shareholders’ equity in the corporate sector. |
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The next largest sectors were manufacturing and
real estate & business services with 17.2 per cent and 12.9 per cent
respectively. Other major sectors were transport & communications (10.5 per
cent) and commerce (9.6 per cent).
(Chart 2) |
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Local-controlled companies accounted for
three-fifths (or $380 billion) of total shareholders’ equity in 2002 while the
remaining two-fifths (or $248 billion) was attributed to foreign-controlled
enterprises.
(Table 1) |
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Shareholders’ equity of local-controlled companies
was evenly distributed between financial services and non-financial services
sectors (about 50 per cent each). |
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Within the non-financial sectors, equity capital
was mainly in real estate & business services (16.9 per cent) and transport &
communications (14.0 per cent). |
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Shareholders’ equity in foreign-controlled
companies was mainly concentrated in financial services (38.9 per cent). The
share of equity in financial services of foreign-controlled enterprises was
comparatively lower than that of their local-controlled counterparts. |
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The size of shareholders’ equity of
foreign-controlled companies was understated due to the high concentration of
foreign financial institutions that are branches of their overseas head
office. Such branches do not have shareholders’ equity as they are not
required to have paid-up capital. |
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Among foreign-controlled companies, other sectors
with significant share of shareholders’ equity were manufacturing (32.5 per
cent) and commerce (14.8 per cent). |
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Even though the bulk of total shareholders’ equity
was contributed by local-controlled companies, there were some sectors in
which foreign-controlled companies accounted for a significant portion of
shareholders’ equity. |
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One such sector was manufacturing where 74.7 per
cent of equity capital was attributed to foreign-controlled enterprises.
Another sector with substantial shareholders’ equity from foreign-controlled
entities was commerce (60.9 per cent). |
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More..... |
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Source:
Singapore Government News Release 23 Dec 2004 |
FrontPage Edition: Tue 28 December 2004
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